Madrigal Pharmaceuticals, Inc. · NASDAQ:MDGL
Madrigal Pharmaceuticals — FY2024 Earnings Presentation
17 slides from Madrigal Pharmaceuticals's earnings presentation, Feb 26, 2025
Slide 1: Fourth-Quarter and Full-Year 2024 Financial Results
Fourth-Quarter and Full-Year 2024 Financial Results Feb. 26, 2025 NASDAQ: MDGL
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation includes “forward-looking statements” made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, that are based on Madrigal’s beliefs and assumptions and on information currently available to it but are subject to
Slide 3: 4Q24 Earnings Call Agenda
4Q24 Earnings Call Agenda Geographic, 2024 Highlights and Rezdiffra Launch Indication and Accomplishments Update Pipeline Expansion New 2-year F4c data announced today1 1. Two-year data from the active-treatment open-label compensated MASH cirrhosis (F4c) arm of the Phase 3 MAESTRO-NAFLD-1 study; da
Slide 4: 2024 was an Incredible Year for Madrigal
2024 was an Incredible Year for Madrigal Built expert leadership and commercial teams Phase 3 data in New England Journal of Medicine Rezdiffra launch: Landmark FDA Establishing a foundational therapy approval of Rezdiffra on March 14, 2024 Guidelines updated to include Rezdiffra as first-line thera
Slide 5: We are Building Toward a Blockbuster Medicine
We are Building Toward a Blockbuster Medicine 66% Net Sales: Generating Strong Uptake Early in the Launch FY24 Net Sales: $180.1M QoQ growth from 3Q24 to 4Q24 $103.3M $62.2M $14.6M $180.1M FY24 net sales in just 9 months 2Q24 3Q24 4Q24 Rezdiffra launch is tracking in line with other best-in-class sp
Slide 6: Steadily Adding Patients in a Market Positioned for Significant Expansion
Steadily Adding Patients in a Market Positioned for Significant Expansion Rezdiffra Potential: 315K Patients Today with Potential for Patients on Rezdiffra: Steadily Adding New Patients Significant Expansion with Competition >11,800 Awareness Screening Diagnosis Treatment >6,800 High GLP-1 Competiti
Slide 7: Increased Breadth of Rezdiffra Prescribers Sets a Strong Foundation
Increased Breadth of Rezdiffra Prescribers Sets a Strong Foundation to Build a Blockbuster Medicine Penetration of Top Targets (%) Productivity of Top Targets Penetration of Total Targets (%) Top targets = ~6,000 Total targets = ~14,000 ~60% top target penetration in only 9 months >75% ~40% ~60% ~40
Slide 8: Rezdiffra: Foundational Therapy in MASH with Exceptional Profile
Rezdiffra: Foundational Therapy in MASH with Exceptional Profile Liver-directed MOA THR-β agonist targets Living with MASH felt like having a underlying causes of MASH time bomb in my body. Rezdiffra gave me hope — and my life back. Highly effective – Jennifer, patient with F2 MASH on Rezdiffra Halt
Slide 9: Expanding Madrigal's MASH Leadership Position and Total Addressable Market Opportunity
Expanding Madrigal’s MASH Leadership Position and Total Addressable Market Opportunity Geographic Expansion Indication Expansion Pipeline Expecting mid-2025 Completed enrollment Committed to leadership CHMP opinion1 in MAESTRO-NASH position in MASH OUTCOMES trial EU launch on schedule Strategically
Slide 10: Unmet Need in Compensated MASH Cirrhosis (F4c)
Unmet Need in Compensated MASH Cirrhosis (F4c) Normal Liver MASLD Cirrhosis (F4) Cirrhosis is a chronic, progressive liver disease characterized by fibrosis and loss of liver function. It can lead MASH MASH w/ Fibrosis to liver failure and portal hypertension which can result in complications like a
Slide 11: MAESTRO-NAFLD-1 Open-Label Extension (OLE) F4c Study Design
MAESTRO-NAFLD-1 Open-Label Extension (OLE) F4c Study Design Inclusion/Exclusion MAESTRO-NAFLD-1 OLE Study Design • ≥3 metabolic risk factors (Metabolic Syndrome) • Well-compensated MASH cirrhosis with no history of decompensation Rezdiffra (80mg) Year 1 Rezdiffra (80mg) Year 2 Screening 1 year 2 yea
Slide 12: New Two-Year Data from MAESTRO-NAFLD-1 OLE Demonstrate Potential Benefit
New Two-Year Data from MAESTRO-NAFLD-1 OLE (n = 101) Demonstrate Potential Benefit of Rezdiffra in F4c Patients1 Mean Change in VCTE (kPa); Mean Baseline: 25 kPa2 % of Patients Achieving ≥25% Reduction in Liver Stiffness3 0 60% Mean reduction of -1 6.7 kPa in liver 51% of patients 50% stiffness – la
Slide 13: Positive Results from MAESTRO-NASH OUTCOMES Could Expand Patient Population
Positive Results from MAESTRO-NASH OUTCOMES in F4c Patients Could Expand Rezdiffra Patient Population MAESTRO-NASH OUTCOMES Trial Design 3:1 Rezdiffra (80mg) Randomization N = 845 Placebo Initiated enrollment: Completed enrollment: Data expected: Aug. 2022 Oct. 2024 2027 Summary Primary Outcome Meas
Slide 14: In Summary: Outstanding 2024 Builds a Strong Foundation for 2025 and Beyond
In Summary: Outstanding 2024 Builds a Strong Foundation for 2025 and Beyond 2024 Performance 2025 and Beyond Penetration of Top Net Sales Active Patients on Therapy Prescribers Expanding to EU1 $103.3M >11,800 ~60% F4c MAESTRO-NASH OUTCOMES $62.2M >6,800 ~40% Building a Pipeline ~20% $14.6M >2,000 2
Slide 15: Financial Highlights: 4Q24
Financial Highlights: 4Q24 Three Months Ended December 31 (in millions) Rezdiffra FY24 net sales: Revenues: 2024 2023 $180.1M Total revenues $103.3 $- Operating Expenses: Cost of sales $3.4 $- Higher level of SG&A Research and development $25.6 $70.6 expense related to SG&A $141.2 $46.5 Rezdiffra la
Slide 16: About Rezdiffra
About Rezdiffra What is Rezdiffra? Rezdiffra is a prescribed medicine used along with diet and exercise to treat adults with nonalcoholic steatohepatitis (NASH) with moderate to advanced liver scarring (fibrosis), but not with cirrhosis of the liver. It is not known if Rezdiffra is safe and effectiv
Slide 17: Fourth-Quarter and Full-Year 2024 Financial Results
Fourth-Quarter and Full-Year 2024 Financial Results Feb. 26, 2025 NASDAQ: MDGL
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